Glossary · estimating
Salvage
Value of damaged items the carrier recovers after paying the claim.
When carriers pay a total loss, they typically take salvage rights. You forfeit ownership of the damaged item. Understand this before accepting a total loss payout.
In practice
Where you encounter "Salvage" in Florida claims
Policyholders see "Salvage" referenced in policy language, claim correspondence, and carrier scope of loss documents. Knowing the precise definition under Florida practice keeps you from accepting carrier framing. See also FS 626.854 and FS 627.70131.
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What kind of damage?
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Know these too
Related terms
Projected cost of repair.
Industry-standard insurance estimating software.
A single entry in a scope of loss, with quantity and price.
Regional labor and material cost reference used in estimates.
Contractor overhead and profit, typically 20% added to estimates.
Tax on material costs, added to estimates.
Know the law
Related statutes
Your right to professional representation.
What carriers must do and when.
When you must file.
What the carrier owes you.
Reasonable matching requirement.
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A licensed Florida public adjuster will review your policy and loss documentation for free.
- ✓Licensed Florida public adjusters
- ✓We work for policyholders, not insurance companies
- ✓No fee unless we recover more than you were offered
What kind of damage?
Pick the closest match. We will ask for details next.
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Where else this term matters
Emergency playbooks for every property damage type.
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Statutes that protect policyholders.
Every common denial reason explained.
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Glossary
Related insurance terms
Related glossary entry: Lloyd's Syndicate.
Related glossary entry: Release.
Related glossary entry: Endorsement.
Related glossary entry: Statute of Limitations.
Related glossary entry: Covered Cause of Loss.
Related glossary entry: Open Claim.
Free claim review
Licensed Florida public adjusters. Free claim review. No recovery, no fee.
- ✓Licensed Florida public adjusters
- ✓We work for policyholders, not insurance companies
- ✓No fee unless we recover more than you were offered
What kind of damage?
Pick the closest match. We will ask for details next.
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